Construction is set to begin in the second half of 2022 and production is due to start during 2024.
Denmark-based LEGO Group is committed to speeding up the construction of a US$1 billion factory in the southern province of Binh Duong.
|LEGO accelerates the construction of a $1 billion factory in Binh Duong Province. Photo: LEGO|
At a meeting with leaders of Binh Duong Province on January 17, Preben Elnef, Vice President of LEGO Group said that the company is recruiting employees for the project in the locality.
He highly appreciated the dynamic and professional investment environment as well as the long-term development orientation of the southern province.
For his side, Vo Van Minh, Chairman of Binh Duong People's Committee pledged to create the best conditions for the project in terms of ground, transport infrastructure, and the power supply so that the group can soon deploy the project.
The construction of the factory, the largest Danish foreign direct investment so far in Vietnam, is expected to start late this year and it would be put into operation in 2024.
The factory, spanning 44ha, expected to create over 4,000 jobs and run on solar energy, would be LEGO's sixth in the world and the second in Asia.
The new site expands the LEGO Group's global supply chain network which locates factories close to its major markets. This provides the flexibility to respond quickly to shifts in local consumer demand, shortens the supply chain, and reduces the environmental impact of long-distance shipping.
At a recent investment promotion session with the European market, Alain Cany, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said this is proof that Binh Duong continues to become a dynamic, innovative, convenient, and safe locality, a new and attractive investment destination for European investors.
LEGO Corporation was founded by Ole Kirk Kristiansen in Billund, Denmark in 1932. Its toys are now sold in over 130 countries and territories around the world.
- FDI enterprises in Binh Duong resume production after long Tet holiday
- Workers leaving early for Tet to quarantine cause factory managers headache
- Workers leaving early for Tet cause factory managers headache
- Hai Duong Emphasis on foreign investment advances
- Leather, footwear industry sets export target of US$25 billion
- Tanger Factory Outlet Centers, inc (SKT) Q3 2021 Earnings Call Transcript
- Smart and creative innovation aspirations
- Foreign investment capital still flows into Vietnam
- Making an impressive turnaround
- VIETNAM NEWS HEADLINES JANUARY 24
- Export opportunities abound for Viet Nam
- Export opportunities abound for Vietnam
- Renovation and overtaking
- $44,000 apartments poise for further gain in 2022
- SABECO shows strong commitment to sustainable development
- Many high ranking officials faced legal proceedings in 2021
- SABECO’s spirit of never giving up
- Vietnam to bring to justice 10 corruption cases in 2022: General Secretary
- VIETNAM BUSINESS NEWS JANUARY 31
- AES Vietnam presents Tet gifts to poor households and students
LEGO accelerates construction of $1 billion factory in Binh Duong have 452 words, post on hanoitimes.vn at January 17, 2022. This is cached page on Talk Vietnam. If you want remove this page, please contact us.